Francisco W. Culinary accounting

Monday, December 12, 2016

In my not so distant future I hope to one day open a 1920’s
themed restaurant that operates in Hollywood. In order to achieve this goal, I need
to do a few things first. The first and primary thing is to make a name for
myself in the culinary world. To do this I need to have great job that gets me
in the view of people. With being a popular chef for the people, it will gain
me a crowd that will be enticed to come to my restaurant. The other thing that I
must accomplish is to build and find finical equity that could help give me a
chance to get a loan from the bank. Once both of these things are accomplished I
can start to look for a location in the area surrounding Hollywood. Once I find
an area that I believe has good financial and foot traffic I will have to build
the restaurant. While it is being built the menu can be tested out and messed
with so that it will be profitable. Once the location is built I have planned to
pay off my loan within 5 years.

3. While they are both great
ideas I think that Loralei’s idea of doing both increase sales and lowering
cost is a superb idea. First they need
to break the breakeven point by having a high guest count to increase sales. “At the breakeven point, operational expenses are exactly
equal to sales revenue. Stated in another way, when sales volume in a business
equals the sum of its total fixed and variable costs, its breakeven point has
been reached.” (Dopson, Lea R. Managerial Accounting for the
Hospitality Industry. Wiley, 09/2008. [The Art Institutes].) Reducing
the cost can also help, by increasing the contribution margin that will also help
make a profit. “for the overall operation is
defined as the dollar amount, after subtracting variable costs from total
sales, that contributes to covering fixed costs and providing for a
profit.” (Dopson, Lea R. Managerial Accounting for the
Hospitality Industry. Wiley, 09/2008. [The Art Institutes].).

Monday, November 28, 2016

a. The total revenue of Oct. 2009 is $545000 and total revenue of
Oct. 2010 is $583000

b. THe GOP of Oct. 2009and 2010 are
$16200 ('09) and $184550 ('10). It is for shortcomings such as these that hoteliers now
consider an analysis of a hotel’s GOPPAR to be of such importance. As you may
remember, gross operating profit (GOP) is total hotel revenue less those
expenses that are considered directly controllable by management.

c. The GOP percentage for OCt. 2009 and
2010 are 26.72% ('09) and 31.66% ('10). While GOPPAR is not really a new concept, it has recently been
touted as an alternative to the RevPAR analysis method of evaluating the
effectiveness of a hotel’s revenue generation ability.Gross operating profit per available room (GOPPAR)is
simply defined as a hotel’s total revenue minus its management’s controllable
expenses per available room.

d.
The flow through of Santi's hotel is 59.34% this indecates an effeciency in
managment. Flow-through
is a concept that, while not directly connected to rooms pricing, is extremely
helpful to understanding the pricing philosophy that is best used by a specific
hotel. (Dopson, Lea R. Managerial Accounting for the Hospitality
Industry. Wiley, 09/2008. [The Art Institutes].)

Monday, November 7, 2016

In the face of current ballot issues up for voting
there are many issues that can have an impact on the labor force. One of the
key issues lately has been the legalization marijuana. While many people are
going to be debating whether to pass it or not, I do not. I wish to instead
focus on the effects of marijuana use in the job force. First and foremost, if
it is legalized for recreational use doe companies still have the right to
terminate employees for using marijuana and testing positive on a drug test. The
answer is yes; “In Colorado, in the matter of Coats
v. Dish Network; Coats, the plaintiff was subject to a random drug test that showed the presence
of marijuana in his system. The employer had a "zero tolerance"
policy for the use of drugs and, therefore, terminated the plaintiff's
employment. The trial court dismissed the employee's claim on the basis
that the use of marijuana, even if legalized under state law, was not a legal
activity. In June of 2015, the Colorado Supreme Court upheld the ruling of the
trial court and ruled that an employer is still permitted to terminate an
employee who engages in activity that violates federal law.” (http://www.naceweb.org/j022016/marijuana-drugs-in-the-workplace.aspx)
This means that although you can recreationally use marijuana you can’t use it in
jobs that still operate under federal drug testing due to marijuana being a schedule
1 drug. The following question after that is whether or not use of marijuana
can cause impairment in the job force, “In May 2015, an
article in the Journal of Occupational and Environmental Medicine concluded
that there is a likely statistical association between illicit drug use,
including marijuana, and workplace accidents. The drug impairs
attentiveness, motor coordination, and reaction time and impacts the perception
of time and speed. Studies from the National Institute on Drug Abuse have found
that marijuana negatively impacts driving performance, and other researchers
have found that acute use of the drug increases the risk of crashes and fatal
collisions.” (https://ohsonline.com/Articles/2016/02/01/Marijuana-Use-and-Its-Impact-on-Workplace-Safety-and-Productivity.aspx?Page=1)
This concludes that certain jobs that require attentiveness and full use of
motor functions would be impaired or will suffer under performance by the use
of marijuana.

Monday, October 31, 2016

There are very few times
one can say that they have had the greatest or grandest moment in their life,
however there are places where the environment or the actual experience of
being in that location is so great it lays within our memories forever. For me
one such moment occurred while I lived in Iceland. Every summer during the week
of the solstice in the city of Hafnarfjörður at a place called the Viking village,
“The Viking Village is
small and personal family business in the restaurant and hotel business. It is
located in Hafnarfjörður a lovely town by the sea and our facilities have
ocean front views” (http://fjorukrain.is/en/about-us-3/),they
celebrate by recreating what life was like during the time of the first
settlers of Iceland called Viking Festival in English. (at least they did while
I lived there). While visiting the festival my family went to the restaurant that
is located just adjacent to the festival called Fjörugarðurinn, here the food
was prepared and presented to the best recreated style of the first settlers,
one of the items on the menu is Íslandsdiskur höfðingjans með hákarli, harðfisk, síld, rúgbrauði og
súrmat (Þorramatur)(http://fjorukrain.is/matsedill/)
which translated is Viking starter with shark, dried haddock, herring, ray
bread, assorted whey pickled food (Thorri food) and taste of Black death.
On top of the recreated foods they had minstrels sining traditional Icelandic songs
and telling traditional stories. One of the more memorable moments was when one
of the people dressed up came to our table and threw his knife into the table in
front of my brother and told him he would eat his vegetables. This restaurant experience
is also the greatest one for me due to the fact that when I asked how they made
the food they had the cook come out and explane hoe some of the more
traditional foods where made.

Monday, October 17, 2016

a.
The accounting method that shows a higher net profit is Lisa's accrual
accounting method; this is due to the fact that it records all amounts of money
no matter when they are collected or payed out.

b.
The accounting method that most
accurately the amount of cash on hand to pay bills is Laura's cash accounting
method, "The
major advantage to using a cash accounting system is... simply by looking at
the current balance in your checking account you will know how much money you
have left to spend."

c.
The accounting
method that most accurately shows the revenues generated regardless of when they were paid is Lisa's
accrual method, "In
an accrual accounting system, revenue is recorded when it is earned, regardless
of when it is collected"

d.
The Which accounting method which most accurately shows the expenses incurred
regardless of when they were paid is Lisa's accrual method, "In an accrual accounting system,
and expenses are recorded when they are incurred, regardless of when they are
paid."

Monday, October 10, 2016

If
the company she works for does not have any form of policy for kickbacks or
gifts it would not be illegal to accept it but it may be immorale. "You
must also consider whether or not it is permissible within the guidelines
established by the company for which you work. In this case, violation of a
stated or written company policy may subject you to disciplinary action or even
the termination of your employment."

b.
Does it hurt anyone?

It
is possible that at some level someone is being hurt. The gift of hot dogs is
ment for the company not for personal use for Laurie. The hurt that is being
incurred can be on the be half of the Restaurant aand the supplier."Discounts,
rebates, and free products are the property of the business, not the
manager."

c.
Am I being honest?

Can
she in the future fairly and objectivly look at the bids from other suppliers.
If she has a responsibility in which she has to interact with other suplliers
can she be objective or would she now have a bias. As well how would accepting
the gift of hot dogs reflect on her professional career.

d.
Would I care if it happened to me?

If
she was thge owner would she like to have one of her employees accept and
personally use a gift. if she wouldnt than she should not accept the hot dogs.

e.
Would I publicize my action?

Would
she like to have her actions show up in the company newsletter, if she would
not it would be indicative of the fact that she is doing something wrong.

f.
What should be done with the two cases of hot dogs?

The
hot dogs should be used for a comapny wide event, or she should inquire with
her boss on how to handle the free gift.

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About Me

In the English world there is an old adage along the lines of, “If you can’t stand the heat of the kitchen; Get out!” While in the culinary industry the heat of a professional kitchen is higher than a home one; there are so many other factors that influence the industry and how well you do in it. As a culinary professional I can say that this industry is a very hard one to work in. While a viewer from the outside my say that the work done in this industry is relatively easy, it is not. This industry is rough and merciless. As I continue to adapt and climb the ladder of my industry, I develop more skills that allow me to be successful as well as attain meaningful knowledge. I continually seek out jobs that will challenge me in ways that I have never been; my dreams and aspirations in my field have been extensive. I do not wish to be a simple line cook or executive chef; my end goal is to work as the executive chef for the White House. How I reach my goal is through a 12 year plan I have set up.